Tax Talk

Offices preparing returns that have had the Earned Income Tax Credit denied will be receiving compliance letters stressing the importance of operating with Due Dilligence in the future.  Earned Income Tax Credit is one of the most fraudulently used tools in individual tax preparation.  As a preparer you should be aware of the EITC due diligence requirements as well […]

Just a heads up for offices that have any outstanding bank product returns to be funded.  Any remaining 2009 returns which were field using bank products that are funded from this point forward will have checks printed at the bank and mailed to the client at the address listed on their return.  Preparation fees will […]

EAs with SSNs ending in 4,5, or 6 were scheduled to complete their 3 year renewal of their EA status between Nov 1 and Jan 31 2011.  The renewals are on hold due to the IRS not finalizing how much to charge for the renewals.  The fee is supposed to be dropping from the original […]

Federal Direct is proud to announce a new partnership with JantecNeon company for providing tax preparation related neon signs to our partners at a discounted price for the coming tax season.  We should have the new signs posted to our marketing area by the end of next week and we will also be sending out […]

Rest easy this year registered return preparers!  IRS commissioner Douglas Shulman spoke today before the AICPA and announced that the continuing education requirement for tax return preparers would be pushed back until 2012.  This means that preparers will have a full 12 months to earn the required 15 hours of CE credits.